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Iowa Casinos Enjoy Monthly, Yearly Revenue Spike In May

Iowa’s 19 casinos generated $148.8 million in adjusted gross revenue (AGR) in May, up 2.4% from April and 3.5% from May 2023.

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J.R. Duren Avatar
2 mins read

The revenue dip Iowa casinos felt in April didn’t last long.

According to the latest data from the Iowa Racing and Gaming Commission (IRGC), the state’s 19 casinos generated $148.8 million in adjusted gross revenue (AGR) in May, up 2.4% from April and 3.5% from May 2023.

Key takeaways

  • Based on countrywide averages, Iowa online casinos could generate more than $50 million in revenue in a good month.
  • Iowa casinos logged $148.8 million in revenue in May, up around $5 million from April.
  • The state’s top three casinos accounted for more than have of the monthly revenue growth.

Do online casinos have a chance in Iowa?

Any discussion of casino revenue isn’t quite complete without an overview of where online casinos stand in a state. Currently, seven states have online casino gaming; Iowa is not one of them.

A legislator tried to get Iowa online casinos legalized earlier this year but failed. The main roadblock? Online casinos don’t have the support of all the land-based casinos in the state.

At this point, there’s no telling when online casinos could go live in Iowa. It’s promising that bills for online casinos have been introduced; some states can’t even make it that far. In the meantime, Iowa casinos are losing out on considerable tax revenue.

Based on April revenue numbers from the seven states that offer online casinos, Iowa could generate more than $50 million in revenue in a good month:

StateMarch online casino revenuePopulation (according to 2023 Census Bureau data)Per-capita revenue
Pennsylvania$212,212,61313 million$16.32
Michigan$192,934,49410 million$19.29
New Jersey$193,804,7499.3 million$20.84
Connecticut$42,584,7213.6 million$11.83
West Virginia$17,797,8261.8 million$9.89
Delaware$4,400,001 million$4.40
Average$110,622,4016.5 million$17.02
Iowa$54,464,0003.2 million$17.02

Analysis of Iowa casino revenue in May

May was a strong month across the board for Iowa casinos. Fifteen out of 19 properties posted positive revenue gains, as noted on the IRGC’s May 2024 Gaming Revenue Report.

Q Casino led the way with a 16.9% spike, followed by Harrah’s Council Bluffs at 13.5% and Wild Rose Emmetsburg at 9.8%.

May 2024 RevenueApril 2024 Revenue% Change, Month-on-Month
Prairie Meadows
Racetrack & Casino
$21,245,088$19,983,6606.3%
Ameristar II$16,464,913$15,230,8588.1%
Horseshoe Casino
Council Bluffs
$15,825,476$15,542,3521.8%
Riverside Casino
and Golf Resort
$10,911,705$10,892,6240.2%
Rhythm City Casino$9,995,669$9,437,2425.9%
Diamond Jo (Worth)$9,194,868$9,469,973-2.9%
Grand Falls Casino Resort$8,297,789$8,256,5930.5%
Hard Rock Casino$7,863,157$8,085,606-2.8%
Isle Casino Hotel
Waterloo
$7,587,627$7,969,700-4.8%
Diamond Jo (Dubuque)$7,029,781$6,992,9290.5%
Harrah’s Council
Bluffs Casino &
Hotel
$6,428,317$5,663,13513.5%
Isle of Capri (Bettendorf)$5,465,060$5,467,2180.0%
Lakeside Casino$4,352,919$4,186,2964.0%
Q Casino$3,975,549$3,400,01916.9%
Catfish Bend$3,688,863$3,386,5858.9%
Wild Rose (Jefferson)$3,199,281$2,998,5846.7%
Wild Rose (Emmetsburg)$2,788,412$2,540,5929.8%
Wild Rose (Clinton)$2,709,434$2,728,883-0.7%
Casino Queen (Marquette)$1,726,765$1,607,6637.4%
Total$148,750,673$143,840,5123.4%

The state’s top three revenue earners fueled May’s AGR bounce-back. Prairie Meadows, Ameristar II and Horseshoe Casino Council Bluffs combined for $2.8 million in monthly AGR growth, which accounted for more than half of the state’s overall AGR increase from Iowa’s April 2024 gaming revenue.

Year on year, casino revenue was up $5.1 million, rising from $143.7 million in May 2023 to $148.8 million this past month.

J.R. Duren Avatar
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J.R. Duren has covered the gambling beats for more than a dozen states for Catena Media since 2015. His past reporting experience includes two years at the Villages Daily Sun, and he is a first-place winner at the Florida Press Club Excellence in Journalism Contest.

View all posts by J.R. Duren

J.R. Duren has covered the gambling beats for more than a dozen states for Catena Media since 2015. His past reporting experience includes two years at the Villages Daily Sun, and he is a first-place winner at the Florida Press Club Excellence in Journalism Contest.

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